Pradip Shaw & Co (Practice) (227 Points)
10 August 2011My client is a Works Contractor, going to construct a swimming pool. Total bill raised Rs. 50000/-(nclusive of all taxes and value of materiala) as a part performence , Against which total purchase was made of Rs. 4000/-
comute service tax liability ?
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 11 August 2011
Is the pool constrcuted as part of single house, residential complex, hotel or commercial complex ?
Pradip Shaw & Co
(Practice)
(227 Points)
Replied 11 August 2011
sir, that pool constructed in a park, the entire park is oned by a sports club,
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 11 August 2011
Pool constructed in relation to a building intended for commerce is taxable. Rate is 4.12% of groos amount if compoistion is opted. Otherwise 10.3% of the labour portion of the work.
Pradip Shaw & Co
(Practice)
(227 Points)
Replied 11 August 2011
Sir under composite Tax scheme how much i have to pay ?
Shall I eligible for Cenvat on input .
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 12 August 2011
If composition is opted, 4.12% of the gross contract amount including material cost. Cenvat on input is not available while input services and capital goods are eligible.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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